If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 2 HDFC Car Loan Eligibility Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.25% - 9% Fixed
    Up to ₹4,720 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free PAPERLESS APPROVAL OPTION AVAILABLE
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    13.50% - 15% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    HDFC Car Loan Eligibility Calculator is Rated as "Excellent!" by 6335 Users

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    Car Loan BYTES FROM OUR KITCHEN

    An Overview about HDFC Car Loan

    HDFC has attractive car loan offers for new and used cars. It has appealing interest rates, easy repayment tenures and large loan amounts. Customers can avail of three different car loans to suit their needs. You can avail of a loan for:

    • New Car
    • Pre-Owned Car
    • Loan Against Car

    HDFC offers car loans that finance 100% of your cost to purchase the car. Repay the loan over 7 years. You can check if you are eligible for a car loan in a minute and be approved of one in half an hour. Enjoy fixed interest rates and stability of your EMI every month. HDFC aims at making the process fast and hassle-free for their customers. With low down payments, competitive pricing, transparency and deals offered to customers, this car loan stands out as one of the best offers. HDFC ensures that there are no hidden charges in the loan process which makes customers happy with the clarity of the loan amount and applicable fees.

    HDFC also has tie ups with a number of authorised pre-owned car dealers to provide loans to customers seeking used cars. Get fast approvals and doorstep service with this loan. The car should not be older than 7 years for private use, and 6 years for commercial use.
    And even if you don’t have income documents to present, the bank has a car loan that makes it even more easier for you. The HDFC Loan Against Car Loan gives you an interest rate lower than 2% on a personal loan. You can get a maximum loan amount based on the value of the car.

    HDFC Car Loan Eligibility

    The HDFC car loan is offered to salaried individuals as well as self-employed businessmen. Your eligibility for a car loan is based on a number of factors such as your age, income and whether the bank can be sure you are capable of repaying the loan. You are also required to submit documentation that can support your identity, age, address and income claims.

    Apply for Car Loan Online

    New cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,80,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    2 years in business

    Rs. 60,000 for standard cars.

     

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Partnership Firms

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Private Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Public Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

     

    Pre-owned cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    25 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Public Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

    Loan against car

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    65 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

     

    HDFC Car Loan Documentation required

    In order to complete the eligibility process, you need to submit documentation to prove your identity, age, address and income. The following are the documents you will need.

    • ID proof -
      • For salaried individuals and businessmen: Any official document that can be used to identify yourself such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card.
      • For Partnerships: Partnership deed
      • Private Limited Companies: Memorandum and Articles of Association / Certificate of incorporation
    • Age proof - Any official document that can be used to verify your age will suffice such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card, employer certificate or ID, School or College leaving certificate.
    • Address proof - You are required to prove your place of residence through a ration card, driver’s licence, Passport, telephone bill, electricity bill, credit card statement with a copy of your credit card, or an employer’s certificate.
    • Signature proof - The bank also needs to verify your signature as it appears on your passport, driver’s license, credit card statement, banker’s verification, copy of margin money paid to the bank.
    • Income proof
      • For salaried employees, you need to present your latest salary slip with the latest Form 16/ Latest Income tax returns. You can submit the HDFC bank corporate salary account statement for the last 3 months for salaries above Rs. 8,000.
      • For businessmen, you need the latest/previous year’s Income tax returns with the advance tax paid challan or the latest IT assessment order.
      • For Partnership,Private and Public Limited Companies, you need the latest ITR and balance sheet along with Profit and Loss account.
    • In case you are transferring your loan, you need to submit the foreclosure statement from the previous bank.
    • The repayment schedule for 9 months for personal vehicle, and for 12 months for commercial vehicles.

    Factors Affecting HDFC Car Loan Eligibility

    Your HDFC Car Loan Eligibility can be affected by a number of factors. A few have been listed below.

    CIBIL score - CIBIL score is your credit score assigned by the Credit Information Bureau Limited. A high credit score could make your loan process easy and smooth. A low credit score could prove difficult to secure a loan.

    Age - You can get a loan only when you reach the age of 21 years. The maximum age poses a greater obstacle. You must finish the repayment period by the age of 65 years. This is where age can affect your eligibility.
    Income - The loan amount you are seeking to purchase your car may not always be the same as what you are eligible for. Your loan amount depends greatly on how much income you can show. If you end up being short on the eligible income scale, you can add on your immediate family member’s income to compensate the difference.

    Debt - Any debt you already have might affect your eligibility. Your debt-to-income ratio is a very important factor while taking out a major loan. If you already have another loan, or credit card debt, this could significantly reduce your eligible loan amount or total eligibility.

    How CIBIL Score affects HDFC Car Loan Eligibility

    Your CIBIL score is determined by the Credit Information Bureau (India) Limited which has come to play a very crucial role in India’s Financial System. CIBIL collects and stores all information related to your credit history like credit cards, loans, payments, defaults, spending patterns, and so on. A number of things could negatively affect your score like defaulting on your EMIs or minimum due payments. A lower score reduces the amount of loan you are eligible for. In extremely bad situations, you might not be eligible for a loan at all. You will need to build your score back through a long process. So it is important when you take credit from banks and financial institutions to pay your dues on time and play by the rules to ensure a good credit score for when you need it again.

    How to Increase your HDFC Car Loan Eligibility

    If you find yourself not eligible for the loan amount you are looking for, there are ways to change that.

    Pay off other debts - You will need to repay other loans and credit cards in order to increase the amount of loan you might get. Never take a personal loan right when you plan to take a big car loan or home loan in the near future. This could affect your debt-to-income ratio, and this will significantly reduce your loan amount.

    Co-applicants - You can include the income of your spouse, father, mother, son, daughter, brother and sister to increase your eligibility. They will be brought on as co-applicants of the loan even if the car is not in their name.

    Increase your credit score - Find ways to bring your credit score up. You could spend more on your credit card and pay it back ahead of time. CIBIL scores are tricky because even closing a credit card can put a ding in your score simply because your available credit limit is significantly reduced. So do your research and find ways to improve your score.

    HDFC Bank Car Loan Eligibility Calculators

    HDFC Bank offers a quick and easy eligibility calculator on its website. Simply enter your details to find out if you are eligible for a loan. You can also view the exact total cost and EMI of your car loan. You can then decide whether the loan is suitable for you and apply online. Get special discounted rates of interest when you apply for a loan online.

    You can also check your eligibility on BankBazaar.com. Enter your details and view the results of the loans you are eligible for. You can read further about the HDFC Car Loan offered and apply online directly through BankBazaar.com.

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  • Car Loan Reviews

    • HDFC Bank Car Loan
      "Overall good "
      0.5 4.0/5 "Great!"
      HDFC Bank was good in the car loan process. The customer services is good and the experience was nice overall. I was also comfortable with the interest rate and processing charges. I got a rate around 8% and there is a lock in period of 18 months for a prepayment option.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 22, 2017
    • HDFC Bank Car Loan
      "Its Nice"
      0.5 5.0/5 "Blown Away!"
      I have inquired for the car loan, my dealer insisted me to go with their tie up banks. Hence I don't get opportunity to go with HDFC. But they are good in response, they have called me and confirm my required, HDFC rate of interest and processing fee is also fine.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Aug 22, 2017
    • HDFC Bank Car Loan
      "Experience is good"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has always been fine in the customer services. I have taken a car loan and the documentation is nominal. I also checked about the prepayment, I was informed that I could do the same after six months. The interest rate was around 8.75% and the processing charges was 3K.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 22, 2017
    • HDFC Bank Car Loan
      "Fantastic service"
      0.5 5.0/5 "Blown Away!"
      HDFC car loan service is really good, they provide me a fantastic service and their representatives were very much helpful. The process followed by them was very quick and very good interest because the rate of intrest for my car loan was very low when compared to others banks within 2 to 3 days they completed my car loan process for me which was very helpful for me so it was really a good service I received from HDFC.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 22, 2017
    • HDFC Bank Car Loan
      "Customer Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I bought Duster car worth Rs. 4 lakhs, HDFC sanctioned without insurance amount of Rs. 3.3 lakhs with the interest rate of 10.5% it is normal as per other competitor. In term of Service is also good and I got very much satisfactory service from HDFC.
      Was this review helpful? 0
      , kanchipuram
      Reviewed on Aug 21, 2017
    • HDFC Bank Car Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Service provided by HDFC car loan was very comfortable for me and i generally prefer hdfc always because the rate of interest as it is 8.5% and it is low when compared to other banks and also the documentation part was also less and it was the executives who made this loan process easier and fast. However, I have some personal family issues so I had can celled it permanently.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 21, 2017
    • HDFC Bank Car Loan
      "Customer friendly"
      0.5 5.0/5 "Blown Away!"
      HDFC taken a week time to disburse the loan to the car dealer, they sanctioned 90% of loan amount of Rs.9 lakhs, to purchase Toyota Etios. HDFC gave me tenure of seven years and also they gave me part payment and foreclosure option. I am very much fine with them.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Aug 21, 2017
    • HDFC Bank Car Loan
      "Need to improove"
      0.5 1.5/5 "Bad"
      Due to my personal reason, I have not taken the car loan, also I was looking for the personal loan. Response with the HDFC bank was really good. In future, I would like to go ahead with the HDFC bank. I would like to suggest that they need to make the call to connect with the customer service on immediate basis.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 21, 2017
    • HDFC Bank Car Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      HDFC is far good, compared to other competitor, they have disbursed the car loan on time and they offered 8.5% of interest for 80% of on road price of the car. I bought Hyundai Xcent worth Rs. 6.20 lakhs, I am much satisfied with their service its recommendable.
      Was this review helpful? 0
      , vadodara
      Reviewed on Aug 21, 2017
    • HDFC Bank Car Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      I had very good experience with HDFC on car loan process, its very easy to avail that loan. There were paper less formalities, then bank have sanctioned a loan of Rs.5 lakhs, which I requested. I purchased Hyundai Grand I10 with the best interest rate.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 19, 2017
    • HDFC Bank Car Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      I had very good experience with HDFC on car loan process, its very easy to avail that loan. There were paper less formalities, then bank had sanctioned the loan of Rs.5 lakhs, which I had requested. I purchased Hyundai Grand I10 with the best interest rate.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 19, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have got the car loan with the HDFC bank for the rate of interest as nominal one like around 11% to 12%. I would like to say that the response was really fine and the loan amount got disbursed to my account in a day of time.
      Was this review helpful? 0
      , silchar
      Reviewed on Aug 19, 2017
    • HDFC Bank Car Loan
      "Good to Approach"
      0.5 5.0/5 "Blown Away!"
      The customer support of HDFC bank is really good when I preferred the bank for my car loan requirement. The bank is good in processing the car loan and I had received a proper service throughout the loan process. Interest rate is also good and no issues at all.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 19, 2017
    • HDFC Bank Car Loan
      "All went good"
      0.5 5.0/5 "Blown Away!"
      When I had decided to take a car loan, I went with third party source. And they had directed me to the HDFC bank. All things including the interest rate is good from HDFC bank. I had not to worry about anything during the process because the bank done with the process properly.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Aug 19, 2017
    • HDFC Bank Car Loan
      "Hassles Free"
      0.5 5.0/5 "Blown Away!"
      I thought to take the personal loan but later I approached the bank and had taken the car loan from HDFC. The loan process was simple without any hassles. The bank was cooperative and provided a good customer service. No issues on the interest rate as well.
      Was this review helpful? 0
      , amritsar
      Reviewed on Aug 19, 2017
    • HDFC Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      HDFC bank has been great in the car loan process. The documentation is normal and I got the loan on time. The deal was very attractive on the rate of interest. It was around 8.50% and the processing charges was a minimal amount of Rs. 6000 to 7000 and the tenure is for a period of 5 years of time.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 18, 2017
    • HDFC Bank Car Loan
      "EXCELLENT"
      0.5 4.0/5 "Great!"
      The HDFC bank response was positive when I approached for the car loan.HDFC service was good, They had done very fast process to disburse the amount within a weeks time but I have taken the loan after 15 days of time.The rate of interest is 9% tenured is for 4 years of time and the EMI is around 7900 approximately.
      Was this review helpful? 0
      , vapi
      Reviewed on Aug 18, 2017
    • HDFC Bank Car Loan
      "Good services"
      0.5 4.0/5 "Great!"
      HDFC Bank has offered me a car loan and I am happy with the process. The bank had a simple documentation process and the loan was also disbursed on time to me. The interest rate and processing charges is normal and in all there are no hassles faced.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 16, 2017
    • HDFC Bank Car Loan
      "Satisfactory service"
      0.5 4.0/5 "Great!"
      I have received 80% of car loan from HDFC bank. They have disbursed my loan within 5 days of time. The response with HDFC bank is really good and they have done everything on promised time. The rate of interest is reasonable with HDFC bank. The service which given by HDFC is very good and I am satisfied.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • HDFC Bank Car Loan
      "Instant response & good experience"
      0.5 5.0/5 "Blown Away!"
      I received my car loan from HDFC Bank in five minutes. I applied for it online and the process was instant. Being an existing customer the process is really quick and the services are excellent. I have never faced any kind of inconvenience with the bank.
      Was this review helpful? 0
      , tirunelveli
      Reviewed on Aug 12, 2017
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